Blockchain.com Plans Africa Offices Amid Emerging Crypto Regulations

Blockchain.com, a UK-based cryptocurrency exchange, is expanding its presence in Africa by opening a new office in Nigeria, its fastest-growing market in West Africa, as part of a broader strategy targeting countries with evolving crypto regulations including Ghana, Kenya, and South Africa. Nigeria's recent progress toward clearer crypto regulatory frameworks has been a significant factor encouraging this expansion, reflecting the continent's growing adoption driven by a youthful population and increasing mobile internet access. In South Africa, a landmark High Court ruling clarified that cryptocurrencies are not subject to capital control regulations, distinguishing crypto assets from traditional currencies and potentially influencing regulatory approaches across the continent. Meanwhile, Nigeria is also preparing a new national blockchain policy aimed at accelerating adoption, even as the sector faces challenges such as the abduction of a Ugandan crypto entrepreneur, underscoring security concerns in the African crypto ecosystem. Additionally, Bitget Wallet is experiencing rapid growth in Africa, with a 300% increase in global users, highlighting rising interest and engagement with crypto platforms across the region. These developments collectively underscore Africa's dynamic and rapidly evolving cryptocurrency landscape, marked by regulatory advancements, market expansion, and emerging risks.